KIEV, Feb. 28 – Ukraine's potential to produce new armaments and military equipment is estimated at UAH2.8 billion ($555 million) per year, and it will grow as new models are added to the country's arsenal, Defense Minister Yuriy Yekhanurov has said.

"The potential to produce new armaments and military equipment is already assessed at UAH2.8 billion per year. With new models of military equipment added to the arsenal, production potentialities will grow every year," he said at a meeting of the ministry's scientific and technical council.